Core Scientific Confirms selling 1,100 Bitcoin In August, What Was Its Impact?

While the current quarter in the crypto market has been bad for many companies as Bitcoin dropped, it has been successful for some. Core Scientific has proven that market lows can be beneficial if the right opportunity is identified. The U.S-based crypto mining company produced 1,334 BTC in August and sold over 1,125 Bitcoin for $25.9 million in approximate. According to Core Scientific’s August Production and Operational updates, it operated 25,451 ASIC servers for colocation and self-mining. Also, data shows that the hash rate produced was about 21.54EH/s (hash rate per second). Related Reading: Top Exchanges Mark Readiness For Vasil, Can Cardano Rally To $1? Core Scientific confirmed that August was a highly successful one for the firm. It increased its self-mining hashrate by utilizing thousands of new ASIC servers. Core Scientific Mints 1,334 Bitcoin via 17,000 New Servers The firm’s CEO, Mike Levitt, said that their total hashrate and self-mining hashrate are the largest operating capacity of any listed company in North America. The firm revealed that it deployed about 17,000 new ASIC servers in August. The massive deployment resulted in the generation of 1,334 Bitcoin. The company stated its plan to deploy 43,000 ASIC servers before the end of 2022. In August, Core Scientific got about $26 million by selling 1,125 BTC at an average price of $23,014 per coin. By the end of August, it held 1,409 BTC, which is approx...